Bank of Hawaii Acquires 69 Shares of Eaton Co. plc (NYSE:ETN)

Bank of Hawaii boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,922 shares of the industrial products company’s stock after buying an additional 69 shares during the quarter. Bank of Hawaii’s holdings in Eaton were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETN. Douglass Winthrop Advisors LLC increased its stake in shares of Eaton by 21.6% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,530 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 450 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Eaton by 3.6% during the third quarter. Fisher Asset Management LLC now owns 203,302 shares of the industrial products company’s stock valued at $67,383,000 after purchasing an additional 7,129 shares during the period. Daiwa Securities Group Inc. increased its position in Eaton by 25.9% in the third quarter. Daiwa Securities Group Inc. now owns 106,574 shares of the industrial products company’s stock worth $35,322,000 after buying an additional 21,894 shares in the last quarter. Marco Investment Management LLC raised its stake in shares of Eaton by 3.3% in the third quarter. Marco Investment Management LLC now owns 8,528 shares of the industrial products company’s stock worth $2,827,000 after buying an additional 273 shares during the period. Finally, Pekin Hardy Strauss Inc. lifted its position in shares of Eaton by 4.7% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 9,995 shares of the industrial products company’s stock valued at $3,313,000 after buying an additional 450 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETN. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,705 shares of company stock worth $24,516,346. Company insiders own 0.33% of the company’s stock.

Eaton Price Performance

ETN stock opened at $377.41 on Monday. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $378.00. The firm has a market capitalization of $149.15 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The company has a fifty day simple moving average of $342.75 and a two-hundred day simple moving average of $322.91. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm earned $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.